emirates7 - TECOM Group has acquired an integrated university campus comprising multiple buildings and spanning more than 300,000 sq.ft. in Dubai International Academic City, recognising strong demand for the higher education sector.
This acquisition responds to growing demand from leading international universities for premium educational assets, driven by pioneering government strategies and initiatives including the National Strategy for Higher Education 2030, Dubai Economic Agenda ‘D33’, and Education 33 Strategy ‘E33’. Furthermore, it contributes to strengthening the leading role of TECOM Group’s Education Cluster, comprising Dubai International Academic City and Dubai Knowledge Park, which is currently operating at a high occupancy rate of 99%.
Part of TECOM Group’s strategy to expand and achieve sustainable growth, the AED125 million acquisition raises its total investments across its Commercial and Industrial portfolio to more than AED5.5 billion since listing in July 2022. The Group also intends to enhance and upgrade the newly acquired campus buildings and facilities to ensure the highest quality standards.
“This acquisition demonstrates TECOM Group’s commitment to strengthening the higher education sector, thereby contributing to the UAE’s and Dubai’s position as a global hub for education and talent development,” said Abdulla Belhoul, Chief Executive Officer of TECOM Group. “Aligned with long-term strategies such as the National Strategy for Higher Education 2030, Dubai Economic Agenda ‘D33’, and Education 33 Strategy ‘E33’, Dubai International Academic City is well-placed to address robust demand from academicians and talent from across the world.
“This acquisition, part of our expansion strategy, enhances Dubai International Academic City’s ability to unite internationally renowned academic institutions. TECOM Group’s Education Cluster is home to over 85% of students enrolled in private higher education institutions across Dubai, and we will actively pursue such growth opportunities to enhance our portfolio of educational assets, with the aim of ensuring added and sustainable shareholder value.”
TECOM Group has financed this acquisition from its existing resources while continuing to maintain its healthy leverage and liquidity position. The acquisition was subject to thorough and rigorous procedures in adherence with all relevant regulatory and governance requirements, including following evaluation criteria through independent parties accredited by the regulatory authorities.
Dubai International Academic City is a world-leading hub dedicated to academic excellence and the address of globally renowned universities such as Amity University Dubai, the first international campus of the Indian Institute of Management Ahmedabad (IIMA), the University of Birmingham Dubai, the American University in the Emirates (AUE), and Manipal Academy of Higher Education. Part of TECOM Group’s Education Cluster, which is home to more than 38,500 students, the district offers a purpose-built ecosystem with diverse learning pathways ranging from bachelor’s to postgraduate programmes, enriched by built-to-suit campuses, research spaces, and student accommodation.
This acquisition responds to growing demand from leading international universities for premium educational assets, driven by pioneering government strategies and initiatives including the National Strategy for Higher Education 2030, Dubai Economic Agenda ‘D33’, and Education 33 Strategy ‘E33’. Furthermore, it contributes to strengthening the leading role of TECOM Group’s Education Cluster, comprising Dubai International Academic City and Dubai Knowledge Park, which is currently operating at a high occupancy rate of 99%.
Part of TECOM Group’s strategy to expand and achieve sustainable growth, the AED125 million acquisition raises its total investments across its Commercial and Industrial portfolio to more than AED5.5 billion since listing in July 2022. The Group also intends to enhance and upgrade the newly acquired campus buildings and facilities to ensure the highest quality standards.
“This acquisition demonstrates TECOM Group’s commitment to strengthening the higher education sector, thereby contributing to the UAE’s and Dubai’s position as a global hub for education and talent development,” said Abdulla Belhoul, Chief Executive Officer of TECOM Group. “Aligned with long-term strategies such as the National Strategy for Higher Education 2030, Dubai Economic Agenda ‘D33’, and Education 33 Strategy ‘E33’, Dubai International Academic City is well-placed to address robust demand from academicians and talent from across the world.
“This acquisition, part of our expansion strategy, enhances Dubai International Academic City’s ability to unite internationally renowned academic institutions. TECOM Group’s Education Cluster is home to over 85% of students enrolled in private higher education institutions across Dubai, and we will actively pursue such growth opportunities to enhance our portfolio of educational assets, with the aim of ensuring added and sustainable shareholder value.”
TECOM Group has financed this acquisition from its existing resources while continuing to maintain its healthy leverage and liquidity position. The acquisition was subject to thorough and rigorous procedures in adherence with all relevant regulatory and governance requirements, including following evaluation criteria through independent parties accredited by the regulatory authorities.
Dubai International Academic City is a world-leading hub dedicated to academic excellence and the address of globally renowned universities such as Amity University Dubai, the first international campus of the Indian Institute of Management Ahmedabad (IIMA), the University of Birmingham Dubai, the American University in the Emirates (AUE), and Manipal Academy of Higher Education. Part of TECOM Group’s Education Cluster, which is home to more than 38,500 students, the district offers a purpose-built ecosystem with diverse learning pathways ranging from bachelor’s to postgraduate programmes, enriched by built-to-suit campuses, research spaces, and student accommodation.